"Mistral AI, the French company behind AI assistant Le Chat and several foundational models, is officially regarded as one of France's most promising tech startups and is arguably the only European company that could compete with OpenAI. It is reportedly in the process of raising another round that would value it at $14 billion, up from about $6 billion in June, 2024. While Mistral AI describes itself as "the world's greenest and leading independent AI lab" it is still not as well known as its biggest competitors."
""Go and download Le Chat, which is made by Mistral, rather than ChatGPT by OpenAI - or something else," French president Emmanuel Macron said in a TV interview ahead of the AI Action Summit in Paris in February 2025. What is Mistral AI? Mistral AI, which offers open-source AI models, has raised significant amounts of funding since its creation in 2023 with the ambition to "put frontier AI in the hands of everyone." While this isn't a direct jab at OpenAI, the slogan is meant to highlight the company's openness versus OpenAI's typically closed approach."
"Its alternative to ChatGPT, chat assistant Le Chat, is available on iOS and Android. It reached 1 million downloads in the two weeks following its mobile release, even grabbing France's top spot for free downloads on the iOS App Store. In July 2025, Mistral AI updated Le Chat with new features that bring it closer to rival full-stack AI chatbots: a new "deep research" mode, native multilingual reasoning, and advanced image editing. This update also includes the addition of Projects, which lets users group chats, documents, and ideas into focused spaces. As of September 2025, Le Chat also has the ability to remember previous conversations with the introduction of Memories. This comes in addition to Mistral AI's suite of models, which includes: Mistral Large 2, the primary large language model replacing Mistral Large. Pixtral Large, unveiled in 2024 as a new add"
Mistral AI is a French AI company offering open-source models and the Le Chat conversational assistant. The company was founded in 2023 and has raised substantial funding while pursuing rapid expansion and a valuation increase from about $6 billion to a reported $14 billion. Mistral positions itself as a green, independent AI lab focused on openness and broad access to frontier models. Le Chat achieved one million downloads shortly after release and has received updates adding deep research mode, multilingual reasoning, advanced image editing, Projects for organization, and Memories to recall past conversations. The model suite includes Mistral Large 2 and Pixtral Large.
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